Open Access

Jonas Zink

• This dissertation aims to contribute to filling research gaps by providing new empirical insights on the role of sustainable finance in combating climate change. For this purpose, this dissertation examines various aspects of sustainable finance in different subfields. First, it addresses selected challenges in assessing corporate environmental behavior that investors face when incorporating non-financial and non-standard information into their decision. Second, it examines the two main actions of investors, namely capital reallocation and shareholder engagement, and evaluates their implementation and drivers. Third, and finally, it analyzes whether capital reallocation can lead to investor-induced changes in corporate environmental behavior by altering financing conditions of companies. In summary, all six articles enhance the understanding of the role of sustainable finance in combating climate change. The insights gained can enable market participants to make more informed andThis dissertation aims to contribute to filling research gaps by providing new empirical insights on the role of sustainable finance in combating climate change. For this purpose, this dissertation examines various aspects of sustainable finance in different subfields. First, it addresses selected challenges in assessing corporate environmental behavior that investors face when incorporating non-financial and non-standard information into their decision. Second, it examines the two main actions of investors, namely capital reallocation and shareholder engagement, and evaluates their implementation and drivers. Third, and finally, it analyzes whether capital reallocation can lead to investor-induced changes in corporate environmental behavior by altering financing conditions of companies. In summary, all six articles enhance the understanding of the role of sustainable finance in combating climate change. The insights gained can enable market participants to make more informed and purposeful investment decisions. This can lead to more significant and more profound reallocation of capital and more powerful and targeted shareholder engagements. This in turn could have a positive effect on combating climate change.…